The bank would never have approved funding
During the hurricane season in Jacksonville, the high winds often cause power outages. There is widespread flooding, torrential downpour and downed trees and limbs. I made the mistake of purchasing a fixer-upper house right along the St Johns River. It should have concerned me that the house had recently been renovated yet was in terrible condition. The former owners had obviously invested into new floors, kitchen cabinets, appliances and bathroom fixtures. However, there was widespread mold growth, warping, cracking and damage. Everything needed to be replaced. I assumed that hurricanes and flooding were a rare occurrence. I was delighted by the reasonable price for the property. I waived the home inspection and was able to buy the house without a bank mortgage. I took out a loan to remodel and make repairs. I bought new appliances and fixtures, laid down new floors, installed new cabinets and countertops and even put up new drywall. I got to enjoy my efforts for nearly two years. A particularly brutal hurricane passed through the Jacksonville area and my house sustained considerable damage. I was looking at starting over. I couldn’t afford to tackle another renovation project or install new appliances. Listing the house through a realtor and hoping for a buyer was impossible. The house was a giant code violation, safety hazard and health risk. The bank would never have approved funding. I was relieved to find a cash home buyer who makes offers on properties in any condition. By submitting an online form and providing some basic information, I received a cash offer in under twenty-four hours.